Outdoor Equipment (OE) sells camping equipment.Journalize the following entries for the currentyear. OE accepts Visa Card purchase (1.5% service fee) inaddition to A/R and Cash. We purchase on account.
May 2
OE purchased $15,200worth of inventory from one of its suppliers. Terms 2/10 n/30, FOBdestination with freight costing $2,000.
May 4
OE returned $ 500 of the merchandisereceived on May 2.
May 5
OE sold a tent andcamping supplies worth $3,500 to a customer paying with Visa. Thecost of the merchandise sold was $1,750.
May 6
OE sold campingsupplies worth $1,500 to a customer on account. Terms 1/10 n/30.The cost of the merchandise sold was $ 750.
May 10
Romeo paid the invoice dated May 2.
May 15
The customer, fromMay 6 returned $ 100 of damaged merchandise. The cost of thereturned merchandise was $ 42.
May 19
OE received the payment from the May 6sale.
Outdoor Equipment (OE) sells camping equipment. Journalize the following entries for the current year. OE accepts Visa C
-
- Site Admin
- Posts: 899603
- Joined: Mon Aug 02, 2021 8:13 am